4 Metrics to Measure Your Best Leads

In my last post, I reviewed 4 ways to segment your leads using your marketing software (like HubSpot) integrated with your customer relationship management (CRM) system. Now let's jump into how to measure those different segments to identify the best ones! What does "the best" mean?

4 Metrics to Measure Your Best Leads

1. Conversion Rate to Opportunity

One key metric is the percentage of leads that convert into a qualified sales opportunity as tracked in your CRM. You might find, for example, that your email newsletter leads convert at a lower rate than your other offers and that your free product trial converts at the highest rate.

2. Conversion Rate to Customer

Conversion to sales opportunity isn't the end of the game - you want to see how those leads convert into customers. You might find, also, that an offer that has the best lead to opportunity conversion rate may not have the best opportunity to customer conversion rate.

3. Average Rating

Sometimes you need qualitative feedback in addition to quantitative feedback. Have your sales team rate all the leads coming in to see commonalities in the leads that your team rates as their favorites.

4. Rejection Rate

Not every lead is going to be a great fit. Are you generating leads that immediately get thrown out or "rejected"? Measure this rejection rate and see where it crops up the most - maybe you find that leads generated through Paid Search (PPC) have a higher rejection rate than organic sources like Organic Search and Social Media. Rejected leads take up the time of your sales team to actually review but decide not to call.

Bonus Tip: Work each of these metrics into a sales and marketing service level agreement (SLA) to set expectations with your sales team and measure your progress over time. Identifying your best leads according to these metrics and setting an SLA will help you figure out where to invest your marketing resources and improve your smarketing productivity.

How do you measure your leads? Please share your strategies or successes in identifying and prioritizing your leads.

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Comments

Posted by Ellie Mirman on Thu, Dec 16, 2010 @ 05:00 PM